South Korea targets sub-$680 crypto transfers in sweeping AML crackdown — TradingView News
South Korea is preparing one of its toughest Anti-Money Laundering (AML) crackdowns yet, planning to expand its crypto Travel Rule to cover transactions under 1 million won (about $680).
According to a Yonhap News report, the Chairman of the country’s Financial Services Commission (FSC) Lee Eok-won revealed the plans at the National Assembly’s Legislation and Judiciary Committee on Wednesday, saying that the government will crack down on money laundering activities that exploit crypto transactions.
“We will crack down on crypto money laundering […] expanding the Travel Rule to transactions under 1 million won,” according to a translated version of his comments.
The move closes a gap that allowed users to break transfers into…
